Australian Factory Input Costs Hit 4-Year High on Middle East Fuel Disruptions

Australia's S&P Global Manufacturing PMI rose to 51.3 in April from 49.8, but input cost inflation accelerated to a four-year high with 69% of firms citing higher costs, mainly fuel from Middle East supply issues. This follows March CPI surging to 4.6% YoY (below 4.8% forecasts) on a 32.8% automotive fuel spike and 9.2% transport inflation, while core trimmed-mean held at 3.3% and goods inflation hit 5.5%. Persistent energy shocks signal hawkish RBA pressure for AUD support, though weak output tempers aggressive upside bets amid mixed demand signals.